Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/103292 
Erscheinungsjahr: 
2013
Schriftenreihe/Nr.: 
EWL Working Paper No. 03/13
Verlag: 
University of Duisburg-Essen, Chair for Management Science and Energy Economics, Essen
Zusammenfassung: 
Investments in power generation assets are risky due to high construction costs and long asset lifetimes. Technology diversification in generation portfolios represents one option to reduce long-term investment risks for risk-averse decision makers. In this article, we analyze the impact of market imperfections induced by risk-aversion on the long-term investment portfolio structure in the market. We show that risk-averse electricity market agents who receive a managerial profit share may shift the technology structure in the market significantly away from the welfare optimum. A numerical example provides estimates on the potential scale of this effect and discusses sensitivities of key parameters.
Schlagwörter: 
Nodal Pricing
Market Design
Electricity Markets
JEL: 
G11
L94
Q43
C45
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
945.32 kB





Publikationen in EconStor sind urheberrechtlich geschützt.